Kim Kardashian is in talks to buy back a minority stake (20%) in her beauty business, which she sold earlier Koti, an article of wall street journalCiting sources familiar with the matter, it said the value of the stake has not been determined and the talks could end at any time.
The Kardashians are reportedly keen to buy back the 20% stake held by Coty today in a bid to expand the beauty ranges. skkn, In 2000, the cosmetics giant announced it would pay $200 million for a stake in Kardashian’s brand, then known as KKW Beauty (Kim Kardashian West). By that time, Coty had already invested in sister Kylie Jenner’s brands Kylie Cosmetics and Kylie Skin.
Coty bought a 20% stake in the SKKN BY KIM brand in June 2020, valuing it at $1 billion.
KKW Beauty is set to shut down in the summer of 2021, before Kardashian and Coty relaunch the label as Kim’s SKKN the following year. Meanwhile, KKW Fragrances is set to shut down in April 2022. And last month Kardashian confirmed she would be bringing back makeup and fragrance lines under the SKKN brand with new names, formulations and a “neutral” look.